View more on these topics

Abbey pulls exclusives with 27 key accounts

Abbey for Intermediaries has pulled the exclusive deals it had with its 27 key accounts. Brokers had until this morning to get applications in.

An Abbey spokesman says: “We have taken this move as a result of the high demand generated through our exclusives. But we firmly believe our mortgage products continue to offer value to brokers.”

The lender stresses that the policy of offering exclusives to key accounts has not been withdrawn permanently and it will review the situation again in the near future.

Recommended

Only nine UK lenders offer 100% LTV deals

Just nine UK lenders still offer 100% LTV mortgages direct to the public, new analysis from Mform.co.uk reveals. Mform.co.uk’s study shows that the number of UK lenders in the 100% LTV market has dropped from 22 six months ago, with only seven lenders selling 100% LTV mortgages in Scotland.The number of products on offer has […]

Northern Rock calls time on SPML backed sub-prime range

Northern Rock is withdrawing its Southern Pacific Mortgage Limited back near prime and sub-prime range as of close of business tonight.NR began originating loans on behalf of Lehman Brothers owned UK mortgage brand SPML in April 2007, in return for fee income. The arrangement worked on the basis that NR would attract applications via its […]

Website slams chancellor’s Open Market HomeBuy focus

Moneysupermarket.com has dismissed chancellor Alistair Darling’s focus on Open Market HomeBuy products in yesterday’s Budget as a huge disappointment. Louise Cuming, head of mortgages for the price comparison site, considers equity share mortgages as a good option in principle but adds that they benefit so few borrowers that they are useless in breathing life into […]

Newsletter

News and expert analysis straight to your inbox

Sign up